Nestlé ambition to invest in Egypt continues forward momentum
INVESTMENT WATCH- Nestlé inaugurates EGP 250 mn Bonjorno factory: Nestlé inaugurated on Thursday its EGP 250 mn (USD 14 mn) factory for its coffee brand Bonjorno, located in the 6th of October industrial zone, according to a statement (pdf) from the Swiss food giant.
An export hub in the making: The 12,740 sqm facility, which has a workforce of about 240 employees and provides around 7000 indirect jobs, “uses Nestlé’s strong manufacturing and innovation capabilities … We aim to have the Bonjorno factory as an export hub for coffee in the region,” said Nestlé SA executive VP and head of operations Magdi Batato. Moataz El Hout, the CEO of Nestlé North Africa, said that “in the last few years, our local workforce reached almost 3,500 direct employees and invested almost EGP 1 bn into manufacturing, distribution facilities and skill development.”
Background: Nestlé acquired Bonjorno owner Caravan Marketing Company in late 2017. At the time, the company said it had plans to continue investing in the Egyptian market. The story is getting coverage in the global trade press.